The Nigeria Civil Aviation Authority (NCAA) and the National Insurance Commission (NAICOM) have signed a Memorandum of Understanding (MoU) to strengthen regulatory oversight on aviation insurance compliance in Nigeria. The MoU was signed at the NCAA Corporate Headquarters in Abuja.
NCAA says that the agreement was “signed by the Director General Civil Aviation (DGCA), Capt. Chris Najomo, and the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, on behalf of the NCAA and the National Insurance Commission (NAICOM) respectively.”
The Director-General of Civil Aviation (DGCA), Capt. Najomo stated that “the agreement was built on a long-standing collaborative relationship between the two regulatory institutions, particularly in assessing the adequacy and viability of insurance policies procured by aviation operators in line with the Nigeria Civil Aviation Regulations (Nig. CARs), 2023.”
According to Capt. Najomo, “aviation remains a paradoxical industry that is globally recognised as the safest mode of transportation, yet characterised by high-impact operational risks. Hence, the need to strengthen aviation safety, financial resilience, regulatory compliance as well as the protection of the travelling public and other stakeholders in the aviation ecosystem.”
Capt. Najomo commended “the Joint Technical Committee (JTC) for their diligence in developing the MoU, expressing confidence that the team would ensure measurable improvements in insurance compliance and oversight.”
Mr. Omosehin described “the agreement as a significant milestone in strengthening the safety, integrity and resilience of Nigeria’s aviation ecosystem”, stressing that “aviation insurance was not merely a regulatory requirement but a critical risk-management instrument for protecting lives, property, businesses and the wider economy against aviation-related losses.”
The Director, Air Transport Regulation at NCAA, Mrs. Olayinka Babaoye-Iriobe, reaffirmed “NCAA’s commitment to ensuring that appropriate insurance arrangements are maintained to protect passengers, operators, third parties, cargo and other interests against liabilities arising from aviation operations.
Also, “in attendance were representatives of the Minister, Mr. Suleiman Kilo, the Nigerian Insurers Association (NIA), Nigerian Council of Registered Insurance Brokers (NCRIB), Airline Operators of Nigeria (AON) and the Aviation Ground Handlers Association of Nigeria (AGHAN).”